Apple share price jumps 7% on tariff exemption, iPhone shipments up 10% in Q1 to clinch top spot globally

Apple Inc.’s iPhone unit shipments surged 10% in the first quarter as part of an effort to accelerate deliveries and avoid expected tariffs on China, according to industry tracker IDC.

The company shipped 57.9 million units during from the beginning of January through March, a rise from the 52.6 million units it delivered in the same period a year ago. The uptick isn’t necessarily because of a sudden gain in demand: IDC says the increase is due to a stockpiling effort meant to offset tariffs on goods exported from China to the US.